-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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This is all going to get revised upwards.
Yet that’s still $138 million more than city government should be spending on “recently-arriving migrants”, rather than its constituents.
That spending only attracts more non-productive future welfare recipients to Chicago.
Folks, illegal immigration and the costs incurred is a driver of inflation.
That is 138,000,000 dollars of tax payer money that doesn’t improve the lives of the Citizen. We should only be fueling up the busses and sending them on their way to DC. F both jbs.